An Independent Software Vendor is defined as any enterprise or software publisher that focuses on creating, developing, and distributing software through commercial licensing agreements with individual end-users or organizations. Recent studies indicate that the ISV industry is expected to reach a market value of $408.15 million by 2026, with a CAGR of 10.5%.
Many ISV companies leverage the power of cloud services for various reasons. As digital systems and cloud technology continue to evolve, the majority of ISV companies are currently shifting towards cloud-based solutions to foster and facilitate digital transformation.
Advantages of Cloud Computing for ISV Companies
1) Improving Accessibility and Application Deployment Processes
Implementing cloud-based solutions with ISV products can help significantly improve user accessibility and expedite the application deployment process. Cloud computing can not only enable end-users to access data storage facilities much more easily than ever before but can also allow consumers to utilize ISV products and services safely and securely. Research has shown that 94% of businesses report significant improvements in their online security after migrating their organizational data and information to the cloud.
Furthermore, cloud-based services can enable ISV companies to instantly update and refine existing products with minimal time delays as well as significantly reduce the length of the application development cycle of new products.
2) Cost-Effective Digital Innovation and Development
72% of information security leaders have stated that cloud computing and cloud-based services represent a top digital transformation priority. The main concern for the majority of ISV companies is usually a large costs associated with the application development of new products and future digital transformation.
However, cloud services can enable ISV companies to create a digital infrastructure that fits user requirements and expectations without utilizing a large amount of organizational financial or human resources. Cloud services enable ISV companies to substantially reduce the wastage of scarce financial investment.
3) Increasing Market Value and Customer Satisfaction
As digital technology continues to evolve at an exponential rate, many businesses and end-users are beginning to prioritize cloud-based solutions. Therefore, implementing cloud computing into software products can enable ISV companies to increase customer satisfaction and customer retention as well as their overall future market value.
Planet Crust – A Cloud-Ready Low-Code Solution
Planet Crust’s open-source low-code software is the perfect tool to help your business leverage the power of cloud-based services. It comes with a cloud-ready architecture that let’s you build and run cloud-based software. Planet Crust’s cloud architecture is 100% safe and ensures full protection of your company data.
Planet Crust’s low-code solution can help you minimise your software building time and maximise your efficiency. It can give your business the all-around boost it needs to become a high-functioning and high-yielding entity. Try a demo of Planet Crust’s solution to truly discover all the benefits of low-code and cloud.